231–240 of 565 posts
Both the colleges letting their costs get out of control to the control to open the door to this kind of rule and that the current admin thinks this is what secondary education is about. See if it goes to actually rule implementation or if its just posturing.
Earlier quoted context omitted.
> purpose of a college LOAN is 100% a job Wow, what horseshit.
Yes, this is slightly incorrect. The purpose of a college loan is 100% that the default rate will be low enough that the interest payments will provide a positive return for the lender. The expected default rate is given by the lendee’s expected future income. The majority of the expected income is driven by the expected job of that lender, but some of that expected income could come from other income sources such as…
Earlier quoted context omitted.
It's much more complicated than that. >> If an undergraduate program's graduates don't earn more than workers who never went to college, Lots of things affect earnings. Obviously education is one of them, but it's not the only one. Location, economic environment, social status, personal network - all are factors. In other words comparing unequal things leads to unequal results. For example, a first-generation college…
Also unclear how it works for the PhD pipeline. If you roll straight from bachelor's to a doctorate program - you have abysmal earnings for the next 5-6 years of your life.
I don't think this is a good idea but I do think colleges should be required to list the average salaries that people with those degrees have. Include the career and salary progression over the next 30 years. I'm generally against banning things like smoking and gambling but I am absolutely for putting giant warning labels on those things. Adults which means anyone over 18 should know the risks and what they are sign…
Many colleges heavily advertise how it will help your career prospects. Yet when called out on the less than rosy outcomes they retreat to a position of oh it isn't about career at all.
The purpose of a college degree is NOT a job... but the purpose of a college LOAN is 100% a job, and it's very important to differentiate between the two. The whole point of the loan is to buy time; you don't want to wait for when you have savings to purchase the degree, you want to do it now . If you are not doing it for the job, then why the loan, what's the rush? If knowledge and prestige is all that matters, then…
This is such a shitty American take (or any of the countries that somehow decide the USA is a good model to follow), it's kind of baffling that this is a popular opinion and explains a lot of the social issues (or near lack of social system) you guys have. You know that technically, people are allowed to have fun and not strive to be a billionaire, right? Its everyones right to pick a path they want, and enjoy, and i…
Earlier quoted context omitted.
I think the corollary is about taxpayer accountability. It's easy to make the argument: "If we invest $1M in education, we will have $10M in additional future economic output, $4M in future taxes, and $20M less in law enforcement / criminal prosecution / jail fees. It improves global competitiveness." That's a no-brainer. Education is a very high ROI investment for a country. Like infrastructure spending or industria…
A lot of people severely underestimate the value and impact of the arts because they don't produce immediately visible results. But artistic works are often a massive source of inspiration and they help people through dark times.
Earlier quoted context omitted.
If I want a philosophy degree then it's my God-given right to pay $240,000 plus interest for it. Maybe it shouldn't be subsidized, though.
Is this like, a real sum of money americans pay for a degree? Overhead must be mind-boggiling if like just two students are needed to pay educator's salary for the period.
That is the sticker price of college is a competition to be who is the most elite. There's also a scholarship competition, so if you have a higher sticker price, and then you give a scholarship, you can advertise you give the most scholarship money to your students.
Earlier quoted context omitted.
Student loans aren't your standard private sector loan though. They are a special legal category, which is why they can't be discharged in bankruptcy. All the usual borrowing standards don't apply either. No commercial lender would give that size of loan to an 18 year old with no collateral. The collateral is effectively a claim on the person's future earnings. What a crazy contract to have young people routinely pre…
You can discharge them through bankruptcy but it's not automatic. You have to prove repayment would cause "undue hardship". https://studentaid.gov/manage-loans/forgiveness-cancellation...
https://www.ablj.org/bridging-the-student-loan-bankruptcy-ga...